Lockheed Martin is trading higher today, tracking a broader recovery across the aerospace and defense sector as peers like Northrop Grumman and RTX also post gains. This positive momentum follows a period of recent weakness, including a 2.14% decline on October 7, which analysts have largely attributed to a temporary pullback rather than fundamental issues. Investor sentiment remains supported by the company's strong $230.4 billion backlog and recent contract wins, such as the $209 million Navy modification for electronic warfare systems announced earlier this week. Additionally, new analyst coverage initiated with a buy rating and a $650 price target is helping to reinforce the company's growth narrative ahead of its upcoming October 22 earnings report.